Millennium Management LLC Grows Holdings in Textron Inc. (NYSE:TXT)

Millennium Management LLC increased its position in shares of Textron Inc. (NYSE:TXT) by 13.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 486,680 shares of the aerospace company’s stock after buying an additional 57,275 shares during the period. Millennium Management LLC’s holdings in Textron were worth $37,226,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. increased its stake in Textron by 17.8% during the 4th quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company’s stock worth $591,523,000 after buying an additional 1,167,105 shares during the period. Boston Partners increased its stake in Textron by 4.7% during the 4th quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock worth $572,465,000 after buying an additional 333,127 shares during the period. Geode Capital Management LLC increased its stake in Textron by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company’s stock worth $350,619,000 after buying an additional 164,964 shares during the period. Brandes Investment Partners LP increased its stake in Textron by 19.4% during the 4th quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock worth $142,249,000 after buying an additional 302,712 shares during the period. Finally, Northern Trust Corp increased its stake in Textron by 9.4% during the 4th quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company’s stock worth $137,971,000 after buying an additional 155,384 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Price Performance

Shares of NYSE:TXT opened at $76.69 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $94.57. The firm has a 50-day simple moving average of $69.99 and a 200 day simple moving average of $75.61. The company has a market cap of $13.84 billion, a PE ratio of 17.79, a P/E/G ratio of 1.18 and a beta of 1.20.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date is Friday, June 13th. Textron’s dividend payout ratio is presently 1.81%.

Analysts Set New Price Targets

Several research firms have recently weighed in on TXT. Robert W. Baird dropped their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Citigroup dropped their target price on shares of Textron from $111.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Morgan Stanley dropped their target price on shares of Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. Finally, TD Cowen raised shares of Textron to a “hold” rating in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Textron presently has an average rating of “Hold” and a consensus price target of $87.70.

Insider Activity at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the transaction, the vice president now directly owns 18,223 shares of the company’s stock, valued at $1,324,447.64. The trade was a 23.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.70% of the company’s stock.

Textron Company Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.